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Austrian Blockchain Company Builds Platform to Tokenize Solar Energy
The platform tokenizes output of solar-panel assets and allows customers to pay bills according to the power produced.
A Vienna-based blockchain interface company, has built a platform for consumers to invest in energy produced by solar power through tokenization.
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- Riddle&Code Energy Solutions teamed up with Austrian energy provider Wien Energie to build MyPower, an announcement Monday said.
- MyPower tokenizes solar-panel assets, allowing customers to purchase shares in Austria's solar-energy industry.
- In the early stages of the project, a limited number of customers bought shares in a small solar-panel plant, for which they received tokens based on the energy produced by the plant.
- The users were able to use the tokens to pay their electricity bills.
- The project has turned its users from "consumers into prosumers," according to Michael Strebl, CEO of Wien Energie.
Read more: Microsoft, Apple, MicroStrategy to Be Listed on Binance as Tokenized Stocks
Jamie Crawley
Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
